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Precious Metals Markets Showing Strength

Release Date: 
Monday, September 27, 2010

 Recent strength in the commodities markets has been particularly pronounced in the area of precious metals - both spot gold and silver.

Over the past couple of weeks, economic trends such as a weak dollar and concern about the next steps to be taken by the Federal Reserve have helped create a climate favorable to the current level of precious metal prices.

In fact, a report from MarketWatch noted that as of Monday, spot gold prices closed at a record price over seven of the past eight trading sessions, with the yellow metal having now risen more than 18 percent for 2010.

Still, prices for spot silver have also been commanding considerable attention from the financial community, having recently exceeded $21 per ounce to reach levels last seen in 1980 during a failed effort to corner the market.

According to a Reuters report, spot silver prices have gained 30 percent this year alone on their way to the highest prices since 1980. The wire service also quoted Jesper Dannesboe of Societe Generale as saying that "momentum is still very much in favor of gold."
 

This news article is independently provided by Brafton and does not represent the views or opinions of Goldline International, Inc. Although the information in this news alert has been obtained from sources believed to be reliable, Goldline does not guar­antee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice.

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†This material has been prepared for private use. Although the information in this commentary has been obtained from sources believed to be reliable, Goldline does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice.

You should review Goldine's Account Agreement along with our risk disclosure booklet, Coin Facts for Investors and Collectors to Consider ®, prior to making your purchase. Goldline has a spread or price difference between our selling price, called the "ask", and our buy-back price, called the "bid". That spread varies depending on coin or bar you acquire. Spreads on 1 oz bullion coins, 90% silver dimes and quarters, and one ounce and larger bullion bars are 13%. All other coins have a spread of 28%. There is also a 1% liquidation fee when you sell your coins back to Goldline. The market must go up enough to overcome this spread before an actual profit is achieved. Precious metals and rare coins can increase or decrease in value. Past performance does not guarantee future results. Coins are a long-term, three- to five-year, preferably five- to ten-year investment. We believe precious metals are suitable for 5% to 20% of the average investment portfolio though others may recommend a different percentage.

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